The SBA released new Procedural Notices and further guidance on implementation of Paycheck Protection Program loans:

  • Click here for SBA Procedural Notice 5000-20077 on Paycheck Protection Program Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Responsibilities to PPP Borrowers, and Offset of Remittances to Lenders for Lender Debts
  • Click here for SBA Procedural Notice 5000-20078 on Paycheck Protection Program Excess Loan Amount Errors
  • Click here on How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type

It’s anticipated there will continue to be further guidance, processes, and procedures issued which we will continue to provide updates once available. Visit www.JellumLaw.com for a full archive of announcements and more.